Texas § 1151.154 ADMINISTRATION OF PARTNERSHIP INTEREST.

Texas Statutes

§ 1151.154 — ADMINISTRATION OF PARTNERSHIP INTEREST.

Texas § 1151.154

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This text of Texas § 1151.154 (ADMINISTRATION OF PARTNERSHIP INTEREST.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Estates Code Code Ann. § 1151.154 (2026).

Text

Sec. 1151.154. ADMINISTRATION OF PARTNERSHIP INTEREST.

(a)This section applies only to a general partnership governed by a partnership agreement or articles of partnership that provide that, on the incapacity of a partner, the guardian of the estate of the partner is entitled to the place of the incapacitated partner in the partnership.

(b)If a ward was a partner in a general partnership, the guardian who contracts to come into the partnership is, to the extent allowed by law, liable to a third person only to the extent of:

(1)the incapacitated partner's capital in the partnership; and

(2)the assets of the incapacitated partner's estate that are held by the guardian.

(c)This section does not exonerate a guardian from liability for the guardian's negligence.

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Sec. 1151.154. ADMINISTRATION OF PARTNERSHIP INTEREST. (a) This section applies only to a general partnership governed by a partnership agreement or articles of partnership that provide that, on the incapacity of a partner, the guardian of the estate of the partner is entitled to the place of the incapacitated partner in the partnership.
(b) If a ward was a partner in a general partnership, the guardian who contracts to come into the partnership is, to the extent allowed by law, liable to a third person only to the extent of:
(1) the incapacitated partner's capital in the partnership; and
(2) the assets of the incapacitated partner's estate that are held by the guardian.
(c) This section does not exonerate a guardian from liability for the guardian's negligence.